Somany ties up with Italian firm to sell premium tiles

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Tiles maker Somany Ceramics today said it has entered into an agreement with Italy's Fiandre Group for marketing and distribution of the latter's Active range of tiles in India.

Under the agreement, Somany will start selling the premium tiles which are priced at Rs 350-450 per sq ft at its stores in all major cities, including Delhi, Kolkata, Ahmedabad, Mumbai, Hyderabad, Chennai, Bangalore, Ludhiana, Jaipur and Cochin among others in next ten days.

Somany Ceramics expects to touch revenues of Rs 1,000 crore for this financial year and is aiming at a 25% growth in the next financial year.

Shares of Somany Ceramics today closed up 5.03% on the BSE from at Rs 38.60 apiece.